VFS Capital (in the past Village Financial Services LimitedIt plans to increase its assets under management from Rs 803 crore to Rs 1,500 crore within a few years and also plans to expand the number of branches across the country, an official said.
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MD and CEO of VFS Capital Kuldip Maity The NBFC-MFI currently has 247 branches, said at an event in Kolkata on Friday night, and said it plans to add 35 more in this financial year and also plans to enter the state. rajashthan,
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Maiti said that during the last two years of the pandemic, the focus was not on growing business, adding that VFS plans to provide loans for affordable housing and MSME loans. He also said that the new reserve Bank of India Regulations on MFIs will help the sector grow, especially the regulation of interest rates across all entities.
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He said VFS Capital had a capital adequacy ratio of 24.17 per cent and also lower than MFI (I) grade rating. Presently, VFS has operations in 13 states.